Binance and Animoca Brands have launched a $200 million fund to invest in blockchain gaming projects built on Binance Smart Chain (BSC), the companies said in a press release on Monday.
- Binance will be investing through its $1 Billion Growth Fund for BSC. The two companies will contribute up to $100 million each to invest in early-stage projects, the release said.
- Animoca Brands is an investor in non-fungible tokens and metaverse projects; it has a majority stake in metaverse game The Sandbox, and has invested in Axie Infinity, as well as NFT trading platform OpenSea. It was valued at $2.2 billion after a $65 million round in October.
- Earlier in October, Binance announced it plans to invest $1 billion to accelerate the development of its Smart Chain project, the exchange’s alternative to Ethereum where developers can build applications.
Read more: Binance Dedicates Another $1B to Smart Chain Project
